T. Rowe Eyeing Stake in China Asset Management

T. Rowe Price is looking to buy a stake worth $1 billion or more in China Asset Management, according to reports.

T. Rowe [TROW] has been an adviser to China Asset Management over the past three years. Last month, T. Rowe CEO James A.C. Kennedy told investors, “We manage some money for them. Might that turn into an economic interest? We don’t know.”